Jobs under threat at Air NZ

By Victoria
December 13, 2011 16:50

With losses of almost $1million a week on its long-haul network in the second half of the last financial year, Air New Zealand is reported to be considering axing hundreds of jobs in an attempt to recoup the losses.

The airline is reviewing its long-haul operations and chief executive Rob Fyfe has stated that the future of flying beyond Hong Kong and Los Angeles depended on the airline’s ability to achieve operating efficiencies and to build partnerships to ensure profitability.

The airline is seeking to boost profits by $110 million in time the 2015 financial year, while the Government is considering reducing its ownership stake from 74% to 51%.